THE MILKEN INSTITUTE (EIN 954240775) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1989

Legal Domicile

Principal Officer

RICHARD DITIZIO

Phone

3105704600

Tax Period

2023-01-01 to 2023-12-31

THE MILKEN INSTITUTE, founded in 1989, is a major nonprofit that reported $264.7M in total revenue in fiscal year 2023. The organization ran a surplus of $113.8M, a strong 43% operating margin.

Mission

TO ADVANCE SOLUTIONS THAT WIDEN ACCESS TO CAPITAL, CREATE JOBS AND IMPROVE HEALTH.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $216,631,673

Program Service Revenue $2,105,115

Investment Income $45,221,999

Other Revenue $700,667

TOTAL REVENUE $264,659,454

Expense Breakdown

Grants Paid $50,087,825

Salaries & Benefits $48,392,628

Fundraising Expenses $10,856,106

Program Expenses $129,605,196

Other Expenses $51,919,271

TOTAL EXPENSES $150,849,724

Year-over-Year Comparison

	2023	2022	Change
Revenue	$264,659,454	$273,734,030	0.0%
Expenses	$150,849,724	$93,099,476	+0.6%
Net Income	$113,809,730	$180,634,554	-0.4%

Key Indicators

✓ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

323

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

⚠ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$2,085,028

Total Directors

$1,508,054

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RICHARD DITIZIO	CHIEF EXECUTIVE OFFICER & PRESIDENT	40.00	Officer Director	$944,689	$71,006	$1,015,695
JOHN HUNTER	COO & CFO	40.00	Officer	$490,307	$86,667	$576,974
RACHEL GOSLINS	EXEC DIRECTOR - MCAAD	40.00	Highest	$498,998	$43,561	$542,559
ESTHER KROFAH	EXECUTIVE VICE PRESIDENT	40.00	Highest	$492,503	$38,208	$530,711
MARTHA MAZZONE	GENERAL COUNSEL	40.00	Highest	$477,194	$50,561	$527,755
SARAH SANDLER	EXEC DIR-BUSINESS & PROG DEVELOPMENT	40.00	Highest	$470,464	$43,061	$513,525
MELISSA STEVENS	EXECUTIVE VICE PRESIDENT	40.00	Highest	$491,994	$10,797	$502,791
MICHAEL L KLOWDEN	EXECUTIVE VICE CHAIRMAN	40.00	Officer Director	$421,461	$70,898	$492,359
MICHAEL MILKEN	CHAIRMAN	15.00	Officer Director	$0	$0	$0
RALPH FINERMAN	TREASURER	2.00	Officer Director	$0	$0	$0
RICHARD SANDLER	SECRETARY	2.00	Officer Director	$0	$0	$0
DR YVONNE CHAN	DIRECTOR	0.30	Director	$0	$0	$0
MARIANO GUZMAN	DIRECTOR	0.30	Director	$0	$0	$0
DR FREDA LEWIS-HALL	DIRECTOR	0.30	Director	$0	$0	$0
GREGORY MILKEN	DIRECTOR	0.30	Director	$0	$0	$0
LANCE MILKEN	DIRECTOR	0.30	Director	$0	$0	$0
LORI MILKEN	DIRECTOR	0.30	Director	$0	$0	$0
KNEELAND YOUNGBLOOD	DIRECTOR	0.30	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$264,659,454	$150,849,724	$1,237,778,532	$113,809,730
2022	$273,734,030	$93,099,476	$1,093,462,243	$180,634,554
2021	$317,370,742	$64,582,177	$890,913,032	$252,788,565
2020	$137,924,964	$54,155,182	$606,413,267	$83,769,782
2019	$133,637,630	$59,116,470	$495,596,548	$74,521,160
2018	$59,958,585	$54,836,160	$405,947,692	$5,122,425

THE MILKEN INSTITUTE